MLM Detective POSTS

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CFTC confirms iMarketsLive & Wealth Generators operated illegally

The CFTC has issued a press-release confirming iMarketsLive and Wealth Generators were ‘illegally offering forex and binary options to retail investors in the United States‘.According to the CFTC, both MLM companies failed to register their respective offering, making the businesses illegal.
Both the CFTC orders against iMarketsLive and Wealth Generators were issued on September 14th.
With respect to iMarketsLive, the CFTC took issue with the company’s FX Signals Live product.
Through FX Signals Live, iMarketsLive affiliates were able to receive an automated ROI through forex trading.
The individual customers did not take any actions to make the forex trades occur and did not exercise any…

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SEC takes Zeek Receivership to task over excessive billing

In an attempt to dismiss their victims, a cliché trotted out whenever the government steps in and shuts down a scam is that said government will keep most of the money.What scammers don’t realize is that there are checks and balances in place to ensure this doesn’t happen, as evidenced by a recent SEC filing.
Before we get into it I want to preface by stating that to date, the Receivership estimates around 80% to 85% loss recovery for Zeek Rewards victims with a valid claim.
Actual recovery is presently sitting somewhere between 70% and 80%.
In a world of never-ending scams causing incalculable…

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Force demands continued access to frozen funds, blames lawyers

As of September 7th, Michael Force and Mary Dee have been paid combined living and medical expenses of $42,367 and $48,504 respectively.Citing “significant changed circumstances”, the FTC now want to stop these monthly payments – and Michael Force isn’t too happy about it.
In their August 31st motion, the FTC argues that while Force and Dee’s access to frozen funds might have initially been justified, “that access is not unlimited”.
Initially, Force and Dee were granted access to frozen funds to ‘ensure (they) and their families’ health and safety were not adversely affected‘.
As the FTC point out, that was six months ago.
(Force and…

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OneCoin scammer indicted on $400 million money laundering charge

After seemingly little no progress on the regulatory front for some time, a key OneCoin insider has been indicted on a money laundering charge in the US.Mark Scott was indicted by  federal grand jury on August 21st, on money laundering charges related to the OneCoin Ponzi scheme.
On the same day Scott was indicted, a warrant was also issued for his arrest. Authorities apprehended Scott on September 5th.
Scott’s indictment follows a joint FBI and DOJ investigation. According to a filed affidavit in support of his arrest, Scott has been charged with Conspiracy to commit money laundering.
Mark Scott is a licensed attorney in…

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Alex Jones and InfoWars sign up as Jeunesse distributors?

Regardless of where you fall on the political spectrum, you’ve probably heard of Alex Jones.Gay frogs, crisis actor claims, getting banned from pretty much every significant social media network for terms of service violations over the past month?
Yeah, Jones is an undeniably divisive personality in the political discourse sphere who’s hard to miss.
But I’m not here to dissect the fictional character Alex Jones plays on the internet. What caught my attention is Jones having signed up as a Jeunesse distributor.
Jones is branding his Jeunesse distributorship as “InfoWars Yes”. And the first thing you see when you visit Jones’ Jeunesse site is…

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Jeunesse RICO class-action settlement receives preliminary approval

Back in August it emerged that Jeunesse and the represented class had reached a settlement.Following a hearing on September 12th, the proposed settlement agreement has received preliminary approval.The terms of the settlement will see eligible Jeunesse class victims share in $2.5 million, after the class’ attorney fees are paid.
Eligibility for class membership covers Jeunesse distributors who signed up after January 1st, 2010 and lost money.
Looking forward, a Final Fairness Hearing will be scheduled “in the second week of January” 2019.
If that hearing goes smoothly the proposed settlement will proceed, starting with the appointment of a Claims Administrator.
The Claims Administrator will then…

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$10.8 mill judgement in Sean Brown Digital Altitude settlement

Following on from news a settlement between Sean Brown and the FTC had been reached back in July, details of the settlement have now been made public.Sean Brown’s Digital Altitude settlement enters a permanent injunction and monetary order against him.
The injunction permanently prohibits Brown from having pretty much anything to do with a Business Coaching Program or investment opportunity.
Brown is also prohibited from engaging in fraud related to merchant accounts, and misrepresenting facts related to Digital Altitude, as brought forward in the FTC’s complaint.
The monetary judgment component of the settlement comes to $10.8 million.
The bulk of that amount is to be…

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Horst Jicha blew $1.5 mill of USI-Tech funds chasing magic energy

Outside of a yellow Lamborghini that may or may not belong to Ralf Gold, there hasn’t been much information on what the millions USI-Tech investors lost has been spent on.Following the filing of a lawsuit by Horst Jicha, we can now account for an additional $1.5 million in stolen USI-Tech investor funds.
Last October, USI-Tech announced it had worked out how to
be 95% more efficient in producing electricity with revolutionary magnetic power innovation, heating and cooling innovations, artificial intelligence.
Putting aside the fact that the majority of USI-Tech’s ROI revenue was recycled new investment, the company claimed this “new technology” would be implemented…

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WorldVentures pyramid scheme warning issued in Rwanda

Following an internal investigation into WorldVentures by Rwandan authorities, yesterday the Rwanda Development Board issued a pyramid scheme warning to the public.The RDB’s announcement, signed off on by CEO Clare Akamanzi, states that WorldVentures is operating in Rwanda illegally.
According to the RDB, the illegality of WorldVentures in Rwanda is two-fold;
Firstly the company is not registered to do business in Rwanda, as required by law.
Yet despite this, the RDB claims to have observed
some company representatives (claiming) they have authorization from the Rwanda Development Board and other Government entities – a false claim, intended to delude the public.
Secondly, writes the RDB;
Having investigated the…

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FutureAdPro Ponzi collapses, FuturoCoin exit-scam announced

To be fair, FutureNet’s FutureAdPro survived the typical two-year collapse window of most MLM Ponzi schemes.When you’re paying out more than you’re taking in though ($50 in, $60 out), things are eventually going to fall apart.
And for FutureAdPro, following several announcements, that appears to be now.
Perhaps the biggest signal FutureAdPro is on the verge of collapse is the refusal to pay ROI withdrawals in bitcoin, ethereum or several other cryptocurrencies.
In changes recently announced to FutureAdNet investors, FutureNet advised it will only be paying ROI withdrawals in FuturoCoin.
FutureNet launched FuturoCoin earlier this year. Like every other MLM altcoin, outside of FutureNet FuturoCoin serves…